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Home » Reader question » Is buying a house/condo in Hua Hin a good investment?
Is buying a house/condo in Hua Hin a good investment?
Dear readers,
According to a friend of mine you now have to buy a house in Hua Hin because it can only increase in value. Because there will be a fast train to Hua Hin and the airport will be expanded, Hua Hin will become Thailand's new hotspot, according to him. The 'Thai Riviera' project would also provide an enormous boost.
I doubt and have to see it all first. What do other readers think about that?
Regards,
Edje
I think so too. When the airport has completed its expansion, the new train stops here and the many projects are completed, it will become busy here.
If I had the money, I would buy a piece of land right now (yes yes in my wife's name)… or a condominium. I think there's a good chance the value will go up.
But I would just wait a bit until you have enough information, but not too long…
I completely agree with your friend and also expect a future price increase, but not so much in HuaHin itself as the supply is still very large there, but in the region south of HuaHin (SamRoiYod).
However, with the opinion “I have to see it all first” you will not be able to benefit from this.
You can never predict that. Eventually the value will usually increase somewhat. However, it may be that so much is being built that everything eventually becomes less valuable. We have seen this several times and in many places in the world. Where the value certainly increases is in places where it is just no longer allowed or possible to build. But that is certainly not the case in that region, especially taking into account the Thai spatial planning, which in fact does not (yet) exist.
Definitely don't. The houses do not increase in value, as there is so much new construction (competition) (and will come) that an existing house will greatly decrease in value. (From my own experience, the difference between new construction and existing (2/5 years) is no longer so great, which means that new construction takes precedence. It is better to buy land if one of the partners is Thai, because not everyone wants to live in a project.
No, the price of existing real estate in Thailand will fall sharply, especially in HuaHin and other tourist areas. There is already a large supply, many houses in the projects outside the city have fallen in price to 50% of the original competition. Many foreign owners want to sell, with too high a price, but there are no buyers. Prices of houses have risen in recent years and quality has decreased, and it was already not too high … Spasnian conditions, prices will fall. Don't buy from the existing range now, my advice. More condos will be built, Thai developers, smaller projects within the city, there is already a run on the urban locations, so within the city. Wait a minute…
You only get that increase in value if you do not pay too much for the condo when you buy it.
And that will be difficult.
The owners of the condos have undoubtedly also followed the news, and have probably already increased the sale price of the condos.
You can only benefit from a price increase if you intend to sell that condo at some point.
If you want to live there for the rest of your life, that price increase is of no use to you.
Incidentally, the most important question is how the “Hua Hin later” will be different from the “Hua Hin now”.
Is “Hua Hin soon” a place where you would like to live?
We have already purchased in Hus Hin and believe in further development. We also want to live there permanently. Hia Hin has more and more to offer and this will increase demand, so probably higher prices. If you choose a good project, I think this is a safe investment. You also get a high rental yield. There is also a lot of vacant condos in Hua Hin. This is mainly because wealthy Thai or Chinese buy condos and only come for a weekend a few times a year.
The airport is expanding, the train will take at least another ten years. An express train from Bangkok to Chaing Mai is the first priority. I think Hua Hin will remain interesting. I think it's a nice place and if you're in need of some culture or a city feeling, Bangkok is just a pleasant bus ride away.
Two months ago I bought a villa just outside Hua Hin in one of the many developments. It's a buyer's market so bid low.
My plan is to emigrate in three years and then live in Hua Hin for ten years. Otherwise, you're just throwing ten years' rent away. So if I may lose some money on the sale, so be it.
But my bill was correct now, with the euro exchange rate, villa prices, etc, so I went for it, you can't predict the future.
Good luck!
It doesn't matter if prices rise. As a speculation for good profit, you can wait about 25-40 years.
It has been said that a modern train would come, but no spade has been done yet.
.
Buying real estate in Hua Hin because the infrastructure is being pushed usually backfires.
Example: who in the Netherlands still wants to voluntarily live in the Randstad because Scheveningen is located there? Right, nobody.
A response to your path for the new train: in the past 2 months, a lot of paths have already been dug into the ground for the new train, between soi 88 and 94. So people are busy. Last year the cables were pulled in many places, so there was some activity.
As you travel south by train from Hua Hin, you will see new bridges being built along almost the entire route and very wide strips of land along the existing railway being prepared for the construction of the new railway. In that respect, Ko, you are right, but it is much more than what you see in Hua Hin…
Best ,
I am a bit of an expert, I bought my first house (new construction) which was well located just outside Hua Hin ten minutes from the city about 13 years ago and sold it about 4 years ago at a loss to build on a large plot land (3.2 Rai) , one house has been completed for almost four years now .
Well I can tell you that buying new construction is not very profitable, there is a lot for sale in Hua Hin, the supply in the second-hand market is so large that it is depressing prices, while new-build prices are rising, but they have a better quality , at least if you don't build too cheaply.
I advise you because of the sharply rising land prices to buy land and build it yourself with local builders, the price you spend will be just as much as buying in a development, with the difference that you have much more land , and much more land also means much more rising value , the built house does not rise , even falls .
You can also buy a house on the second-hand market, you can find real bargains from departing farang, if you buy cheap the price will only increase, just like those people who bought my house at the time see their sales price rise by buying second-hand. you usually buy furniture included, which is an advantage if it suits your taste
I wish you a lot of succes
Building with local builders puts a lot of money in your pocket, I can help you with it as I know a few well that give good quality
Succes
If I had already lived in Hua Hin, I would also have said that you should buy now, the wish is the father of the thought. Actually, half of Hua Hin is for rent.
That's right, Pim. Something is going to happen .
But nobody knows what ., there is indeed so much for rent.
I think it is profitable for very special houses and more expensive ones of course
and exceptional location. But the big investors know that too.
grts